Slight Increase in Residential Sales in the Montreal CMA in March

L’Île-des-Sœurs, April 8, 2019 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its most recent residential real estate market statistics for the Montreal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris provincial database.

In total, 5,710 residential sales were concluded in March 2019, a modest 1 per cent increase compared to March of last year. Nevertheless, this was the 49th consecutive monthly increase in sales.

Sales by geographic area

Saint-Jean-sur-Richelieu, the South Shore, the North Shore and Vaudreuil-Soulanges all posted solid results with respective sales increases of 21, 7, 5 and 4 per cent.

In contrast, the Island of Montreal posted a 6 per cent drop in sales, while sales in Laval fell by 1 per cent.

Sales by property category

Across the Montreal CMA, the number of single-family home transactions (3,203) was unchanged compared to March of last year, while the number of condominium transactions (2,079) increased by 5 per cent and the number of plex transactions (422) fell by 5 per cent.

Prices

Still at the CMA level, the median price of single-family homes continued to strengthen, reaching $331,000 (+5 per cent) in March.

The median price of condominiums also rose, growing by 3 per cent to reach $248,000.

The median price of plexes (2 to 5 dwellings) was unchanged compared to March of last year, sitting at $500,000.

Number of properties for sale

In March, there were 22,430 active residential listings in the Montreal CMA, a 15 per cent drop compared to one year earlier.

About the Quebec Professional Association of Real Estate Brokers

The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 12,500 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also an important player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec’s residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB is headquartered in Quebec City and has its administrative offices in Montreal. It has two subsidiaries: Centris Inc. and the Collège de l’immobilier du Québec. Follow its activities at qpareb.ca or via its social media pages Facebook, LinkedIn and Twitter.

About Centris

Centris.ca is Quebec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Quebec.